KLG Insider Update: VanDeVelde Receives 917.59 DEUs on RSUs

Rhea-AI Filing Summary

Doug VanDeVelde, Chief Growth Officer of WK Kellogg Co (KLG), reported on Form 4 that on 09/12/2025 he was credited with 917.59 dividend equivalent units (DEUs) tied to previously granted restricted stock units (RSUs). Each DEU represents the contingent right to receive one share of common stock and will vest on the same terms as the underlying RSUs. The DEUs were recorded at a $0 price and are reported in a direct ownership form. After this accrual, the total beneficial ownership reported for the class is 8,929.86 shares. The Form 4 was signed on behalf of the reporting person by an attorney-in-fact on 09/16/2025.

Positive

• 917.59 DEUs credited increases the reporting person's stake, now totaling 8,929.86 shares
• DEUs vest on same terms as the underlying RSUs, preserving original award structure

Negative

• None.

Insights

Securities Analyst

TL;DR: Reporting of 917.59 DEUs increases direct beneficial holdings to 8,929.86 shares; DEUs vest with underlying RSUs.

The Form 4 documents a non-cash accrual of 917.59 DEUs for Doug VanDeVelde on 09/12/2025, reflecting dividend equivalents on existing RSUs rather than an open-market purchase or sale. These units carry the contingent right to one share each and will vest under the same schedule and conditions as the related RSUs, suggesting no immediate dilution or cash consideration. The filing shows direct beneficial ownership totaling 8,929.86 shares post-accrual and was executed by an attorney-in-fact.

Corporate Governance Expert

TL;DR: Routine insider reporting of DEUs tied to RSUs; aligns executive compensation mechanics with existing equity awards.

The disclosure is a standard administrative report of dividend equivalent units credited against previously granted restricted stock units under the company's 2023 Long-Term Incentive Plan. It explicitly states that DEUs vest on the same terms as the related RSUs and represent contingent rights to common stock. The Form 4 contains no indication of changes to grant terms, acceleration, or transfers and therefore appears to be a routine update to insider holdings.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

VanDeVelde Doug

(Last) (First) (Middle)

ONE KELLOGG SQUARE

(Street)

BATTLE CREEK MI 49017

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
WK Kellogg Co [ KLG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Growth Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/12/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Dividend Equivalent Units	(1)	09/12/2025		A		917.59		(1)	(1)	Common Stock	917.59	$0	8,929.86	D

Explanation of Responses:

1. Represents dividend equivalent units (DEUs) accrued on restricted stock units (RSUs) previously granted to the Reporting Person under the WK Kellogg Co 2023 Long-Term Incentive Plan. The DEUs will vest on the same terms and conditions as the corresponding RSUs to which they relate. Each DEU represents the contingent right to receive one share of the Issuer's common stock.

Remarks:

	/s/ Gordon Paulson, Attorney-in-Fact	09/16/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Doug VanDeVelde report on Form 4 for KLG?

He reported the accrual of 917.59 dividend equivalent units (DEUs) tied to previously granted RSUs on 09/12/2025.

How many shares does the filing show after the transaction?

The filing reports 8,929.86 shares beneficially owned following the DEU accrual.

Are the DEUs convertible to common stock and when do they vest?

Each DEU represents the contingent right to receive one share of common stock and will vest on the same terms and conditions as the related RSUs.

Was there any cash paid for these DEUs according to the Form 4?

No cash price is reported; the DEUs are listed with a $0 price, indicating they were credited as dividend equivalents.

Who signed the Form 4 and when was it executed?

The Form 4 was signed by Gordon Paulson, Attorney-in-Fact on 09/16/2025.